Zynga Barely Beats Earnings Estimates; Not Enough Growth for Investors as Stock Drops
Zynga’s stock is down over 10% today on yesterday’s earnings which revealed that Zynga had booked $306.5 million for their fourth quarter. That’s only a few million above estimates of $302.4 million, and apparently that crawling growth wasn’t enough for investors to stick around — Zynga is having a major sell off today and the stock (NASDAQ:ZNGA) has dropped 14% from yesterday’s close of 14.35 to a price of 12.36 as of this writing.
That said, Zynga’s stock is still above it’s IPO price of $10.
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